Houston single-family home sales closed ahead of June 2016 by 8% and the increase in sales brought year-to-date sales up 7%. One might expect a cool-down after a hot first half of the year, however the Houston Multiple Listing Service recorded a 19% increase in pending sales. That large of an increase indicates the market won’t slow down in the near future. As we have seen in previous years – the hotness of the market is contingent upon price ranges. Some home price ranges are hot while others are lukewarm. In reviewing the graph below, it’s very safe to say that homeowners in Houston are enjoying a healthy appreciation on their investment. Stay tuned and we’ll keep you posted!
Here’s a glance at the trends for the month and year:
*Pending sales are homes that are under contract and have not closed and indicate current buyer demand.
Houston Home Sales by Price Class for 2017
What price ranges have the largest increase in sales in Houston in June? The following price classes experienced the largest increase compared to 2016:
Generally speaking, the first half of 2017 has experienced a really hot market in homes priced below $299,999. Homes priced $300,000-$399,999 are in a balanced market and homes priced $400,000 and above are in a buyers’ market.
The Houston overall market is so large; it rarely reflects the same trends as a submarket area located within its boundaries. Some areas are exceeding Houston’s overall growth in sales while others are lagging behind. For a breakdown of activity by area with a map, CLICK HERE.
To see the hottest selling geographical areas for the month in Houston, CLICK HERE.
To search for homes by price range and map, go to www.GaryGreene.com.
Data provided by the Houston Association of Realtors® Information Services™, and The Real Estate Center for Texas A&M and written by Toni Nelson, Director of Strategic Initiatives for Better Homes and Gardens Real Estate Gary Greene